2024 Year End Recap
By Renée Lauzon-Martin - General Manager, HDD Broker LLC - December 30, 2024
It was the first full year with normalized used HDD inventory; about 50% more drills were available for sale compared to this time last year.
There are several reasons, including many economic and market factors - here's just a few: OEMs have resolved supply chain issues and are steadily manufacturing new goods again. Some folks are trading up or cashing out equipment they aren't using. There's also been a trend of ultra-low-bidding jobs which has driven away some contractors, and, of course, there's the perpetual labor shortage of crews to run the drills. Lastly, the pace of some fiber buildouts has slowed down.
Best Selling Used Drills In 2024
The bestsellers give us a great perspective on the current state of our industry which is clearly still strong with telecom work. Larger sized drills also indicate a steadiness in water, sewer and electric segments as well.
- Ditch Witch JT20
It holds onto its top spot. The average used sale price dropped by 23% vs 2023, but it impressively maintained an average days on market of 38 days. - Vermeer D24x40S3
The average sale price dropped by 21% vs last year but the D24x40S3 made a strong showing this year, hitting #2 after a few years of floating lower on the best seller list. - Vermeer D23x30S3
With only a 11% drop in average sales price vs last year, the D23 retained its value, however with 22 listings currently available today, there will be some downwards pricing pressure. The launch of the new D24 will also impact this model. - Vermeer D20x22S3
- Ditch Witch JT10
- Vermeer D10x15S3
- Ditch Witch JT30 All Terrain
- Ditch Witch JT25
- Ditch Witch JT9
- Vermeer D40x55S3
2025 may start out at a sedate pace, but once we understand the impact of the new administration and the stimulus money engages, I predict we'll see an uptick. The surge of data centers that we'll need built to support the AI boom, the hardening of the infrastructure and billions in stimulus money means a promising future for the HDD world. I'm excited for it!
From all of us at HDD Broker, I wish you and your families a safe and prosperous New Year.
This commentary is presented for informational purposes only. It is not intended to be a comprehensive or detailed statement on any subject and no representations or warranties, express or implied, are made as to its accuracy, timeliness or completeness. Nothing in this commentary is intended to provide financial, legal, accounting or tax advice nor should it be relied upon. Neither HDD Broker LLC nor the author is liable whatsoever for any loss or damage caused by, or resulting from, any use of or any inaccuracies, errors or omissions in the information provided.